The COLA reductions of one percentage point, scheduled to take
effect in 2015, are part of the recently approved Bipartisan Budget Act of 2013.
The planned reductions have already garnered a negative response from veterans (see
“Veterans
Voice Pension Concerns”).

In response to this feedback from veterans, the House
Oversight and Government Reform Committee announced that its chairman, Darrell
Issa (R-California), has introduced a bill (H.R. 3801) to repeal the
reductions. Issa explains that the bill would still achieve cost savings in other areas, namely through a modified delivery schedule for the U.S. Postal
Service. This alternative, says Issa, will be an improvement over the $6.2
billion in savings over 10 years that would be achieved by the military COLA
reductions.

“This legislation will restore cost-of-living adjustments
for our military retirees and not only replace the savings but nearly triple them—saving
$17 billion over 10 years, according to conservative U.S. Postal Service
estimates,” says Issa.

Issa is not the only lawmaker to submit legislation in support of veteran pensioners,
according to a news report from The Washington Post. Several other legislators
have also proposed bills to restore the COLA reductions to military pensions, including Representative Rodney Davis (R-Illinois), Representative Michael G.
Fitzpatrick (R-Pennsylvania), Senator Jeanne Shaheen (D-New Hampshire), Representative
Ted Poe (R-Texas) and Representative Julia Brownley (D-California).